Report says Japan must boost productivity to stave off economic decline as population shrinks

March 24, 2015 12:52 AM

7
0

TOKYO – Japan's future prosperity will depend on improving its lagging productivity, says a report by McKinsey Global Institute that urges companies to boost their competitiveness by better use of their workers.

Japan's population of about 127 million began declining in 2011 and is rapidly aging, a trend seen in many industrialized countries. The country's gains in productivity — or the value added for each hour of labor — have lagged behind other wealthy countries in almost all industries, even advanced ma...